Weiss Ratings published a list of the 12 most unreliable Altcoins

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Weiss Ratings, an independent rating agency, recently unveiled its latest estimates for the Cryptocurrency market. The good news is that the Bitcoin performance has improved significantly. Bad news - the number of weak Altcoins, from which it is worth staying away, has not diminished. The agency allocated 12 cryptocurrencies, which, in their opinion, investors should avoid.

Weiss Ratings evaluates the cryptocurrency on a scale from A to E, which takes into account the risks and benefits of the coin's investor, its technology and distribution. D is considered a "weak" estimate, and E is "very weak". The worst ratings in accordance with the agency's credit rating (D- or lower) received the following twelve altcoins:

​Auroracoin (D-)

Comet (E-)

Electroneum (E +)

Expanse (E)

Gulden (D-)

Matchpool (E)

Magacoin (E-)

Novacoin (E)

PotCoin (D-)

Quark (E-)

Rise (D-)

SaluS (E-)

It should be noted that Weiss Ratings often updates its estimates, so you need to check their site regularly to obtain up-to-date data.

Improving Bitcoin performance

The first estimate of Bitcoin from Weiss Ratings was released in January of this year based on "thousands of data points on such parameters as basic technology, practical use and structure of trading operations."

In January, Weiss evaluated Bitcoin in C +, putting the highest scores for safety and wide distribution. A relatively low estimate was based on weak network locations - low transaction processing speed and high commissions at the time when the Bitcoin price had risen to $ 20,000 in December 2017. Moreover, Weiss Ratings assigned a rating of B to the air because of "easier technology to be updated and better speed", which aroused discontent among the representatives of the Bitcoin community.

According to the latest report, the agency upgraded the rating of Bitcoin to B-. Given that these ratings were developed primarily for investors, the update was due to the stability of the Bitcoin price compared to other coins in recent weeks. In addition, Weiss Ratings took into account the implementation of the Lightning Network. However, the agency notes:

"While we continue to monitor its progress with interest, our Technology Index is not designed as a crystal ball of future upgrades, but as a tool to evaluate the state of the art as it stands today. Thus, as soon as the Bitcoin network becomes more efficient, our ratings model, updated daily with new performance data, will reflect the improvement."

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Given this explanation, it is likely that the Bitcoin rating will improve in the coming months, as the Lightning Network began operating only last week and already has more than 1,000 nodes in the main network.

In February of this year, Weiss Ratings stated that it considers transactions with Tether unsafe. According to analysts of the agency, the main problem of USDT is the lack of results of financial audit confirming the provision of these coins.